Magnetic properties of melt-spun Nd4.5B77B18.5 ribbon have been invest
igated using Fe-57 Mossbauer spectroscopy, X-ray diffraction and magne
tization measurements. After the annealing at high temperatures up to
943 K, nanocrystalline composite of various phases like Fe3B, Nd2Fe23B
3, Nd2Fe14B and alpha-Fe are formed. The magnetic properties depend on
the kinds and their relative amounts of phases in the annealed ribbon
. By annealing up to 943 K, formation of the Nd2Fe14B phase is clearly
detected by Fe-57 Mossbauer measurements. This phase gives rise to co
ercivity of the ribbon. Relative amounts of Fe3B and Nd2Fe14B phases i
n the annealed ribbon have been determined by using Fe-57 Mossbauer sp
ectroscopy.